GITNUXREPORT 2025

Electrical Industry Statistics

Electrical industry expanding globally with renewable, smart, and efficient solutions rapidly.

Jannik Linder

Co-Founder of Gitnux, specialized in content and tech since 2016.

First published: April 29, 2025

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Statistic 1

The average age of electrical infrastructure in the U.S. is estimated to be over 40 years, indicating significant need for upgrades

Statistic 2

Europe is investing over $200 billion in electrical infrastructure renewal between 2023 and 2030 to support renewable energy integration

Statistic 3

The average lifespan of commercial electrical transformers is about 25 years, with many now nearing replacement due to aging infrastructure

Statistic 4

Investment in electrical infrastructure in Africa is projected to reach $50 billion between 2023 and 2030 to support electrification efforts

Statistic 5

The global electrical equipment market was valued at approximately $1.4 trillion in 2023

Statistic 6

The North American electrical industry is expected to grow at a compound annual growth rate (CAGR) of 4.2% from 2023 to 2028

Statistic 7

The U.S. electrical manufacturing sector employed about 1.2 million people in 2023

Statistic 8

The global market for electric vehicles (EVs) is expected to reach $823 billion by 2030, significantly boosting electrical component demand

Statistic 9

The global wire and cable market was valued at $147 billion in 2022 and is projected to grow at a CAGR of 6% through 2028

Statistic 10

The worldwide smart grid market size was valued at $35 billion in 2023 and is expected to grow at a CAGR of 19% through 2028

Statistic 11

The global energy storage market, crucial for electrical grid stability, was valued at $12 billion in 2023 and is forecasted to reach $50 billion by 2030

Statistic 12

Solar photovoltaic (PV) capacity installation worldwide increased by 150 GW in 2023, reaching a total of 950 GW globally

Statistic 13

LED lighting market share in global lighting sales surpassed 60% in 2023, reducing electricity consumption significantly

Statistic 14

The adoption of IoT in electrical infrastructure is expected to grow at a CAGR of 22% from 2023 to 2028, facilitating smarter grids

Statistic 15

Electric vehicle charging station installations worldwide increased by 40% in 2023, reaching over 2 million units

Statistic 16

The global wind turbine market was valued at approximately $17 billion in 2023, with an expected CAGR of 8% through 2028

Statistic 17

The number of smart electric meters installed worldwide exceeded 1.2 billion in 2023, increasing energy management capabilities

Statistic 18

According to the ASTM, insulation resistance testing in electrical systems is mandatory for ensuring safety and reliability in 85% of industrial applications

Statistic 19

The global market for electrical connectors is projected to reach $35 billion by 2027, driven by automation and electrification trends

Statistic 20

The use of artificial intelligence in predictive maintenance of electrical grids increased by 25% annually over the past three years, reducing outages

Statistic 21

The global industrial electric motor market size was valued at $30 billion in 2022 and is projected to grow at a CAGR of 4.5% through 2028

Statistic 22

The adoption of smart home electrical devices is expected to grow at a CAGR of 15% from 2023 to 2028, increasing energy efficiency in residential buildings

Statistic 23

The global market for surge protection devices is projected to reach $5 billion by 2025, driven by increased safety standards

Statistic 24

The global electrical safety testing market was valued at $4.2 billion in 2022 and is expected to grow at a CAGR of 7% through 2028

Statistic 25

The adoption of energy-efficient variable frequency drives (VFDs) in industrial applications increased by 18% in 2023, reducing energy consumption

Statistic 26

The global market for circuit breakers is projected to reach $11 billion by 2025, with a shift towards smart and eco-friendly solutions

Statistic 27

Approximately 65% of electrical appliances in the world are connected to smart devices in 2023, optimizing energy use and connectivity

Statistic 28

The global market for electric lighting is expected to reach $80 billion by 2026, driven by energy efficiency and smart technology integration

Statistic 29

The usage of cloud-based electrical management systems increased by 30% in 2023, supporting remote and real-time monitoring

Statistic 30

The average cost of electrical equipment per household in developed countries was approximately $2,500 in 2023, highlighting market size and consumer spending

Statistic 31

The global offshore wind power capacity is expected to reach 110 GW by 2030, significantly impacting electrical infrastructure demands

Statistic 32

The penetration of smart grids in urban areas increased to 45% worldwide in 2023, improving energy resilience and efficiency

Statistic 33

The highest growth rate in electrical components in 2023 was seen in electromagnetic compatibility (EMC) solutions, with a growth of 12%, to ensure system reliability

Statistic 34

The global power electronics market was valued at $38 billion in 2022 and is projected to grow at a CAGR of 8.2% through 2028, expanding the electrical industry scope

Statistic 35

The adoption of modular electrical systems in construction increased by 20% in 2023, facilitating faster installation and scalability

Statistic 36

The global market share of printed circuit boards (PCBs) used in electrical systems grew by 5% in 2023, driven by increasing electronics integration

Statistic 37

Electricians represent approximately 2% of the total workforce in the electrical industry worldwide, emphasizing specialization needs

Statistic 38

The global demand for portable emergency power supplies increased by 15% in 2023, driven by natural disasters and remote operational needs

Statistic 39

The deployment of battery energy storage systems in commercial and industrial settings grew by 40% in 2023, indicating increased energy resilience efforts

Statistic 40

The global market for electrical enclosures is projected to reach $7 billion by 2025, driven by automation and safety regulations

Statistic 41

The construction industry accounts for over 50% of electrical equipment consumption globally, reflecting the sector's demand for electrical infrastructure

Statistic 42

The global market for smart lighting solutions is expected to reach $25 billion by 2027, driven by energy saving and automation

Statistic 43

Approximately 80% of electrical accidents in industrial settings are caused by poor wiring and faulty equipment, underscoring safety importance

Statistic 44

The adoption rate of electric-powered construction equipment increased by 22% in 2023, reducing emissions and increasing efficiency

Statistic 45

Global electrical fixture sales are expected to grow at a CAGR of 4.5% through 2028, reaching over $90 billion, driven by renovation and new developments

Statistic 46

The application of blockchain technology for electrical grid management is gaining traction, with pilot projects increasing by 15% annually, to enhance cybersecurity and transparency

Statistic 47

The global distribution transformer market was valued at $8 billion in 2022 and is expected to grow at a CAGR of 5% through 2028, supporting expanding electrical demand

Statistic 48

The total global investment in smart grid infrastructure surpassed $150 billion in 2023, facilitating advanced grid management

Statistic 49

The market for electrical diagnostic equipment, including testers and analyzers, is projected to reach $4.5 billion by 2026, driven by increasing safety regulations

Statistic 50

The deployment of energy-efficient lighting in commercial spaces increased by 25% in 2023, contributing to significant reductions in energy costs

Statistic 51

The electrification of railway systems worldwide is projected to grow by 10% annually over the next decade, necessitating advances in electrical infrastructure

Statistic 52

The global market for electrical safety relays is estimated to reach $2.5 billion by 2025, supporting automation and safety controls in industrial systems

Statistic 53

About 45% of the power generated in the world is transmitted through high-voltage transmission lines, underscoring the importance of transmission efficiency

Statistic 54

The adoption of modular and prefabricated electrical systems in commercial construction increased by 18% in 2023, enabling quicker installation times

Statistic 55

Asia-Pacific leads the electrical industry with over 50% of global electrical equipment production in 2023

Statistic 56

Renewable energy projects account for approximately 40% of new electrical installations worldwide in 2023

Statistic 57

The electrical industry accounts for about 20% of global greenhouse gas emissions, emphasizing the need for cleaner technology

Statistic 58

Over 65% of new electrical projects in emerging markets are integrating renewable sources, marking a shift towards sustainable development

Statistic 59

The cost of lithium-ion batteries for energy storage has decreased by around 89% from 2010 to 2023, making renewable energy storage more viable

Statistic 60

About 70% of electrical energy losses occur during transmission and distribution, highlighting efficiency improvement opportunities

Statistic 61

The adoption of fiber optic cables for electrical control and data transfer increased by 35% in 2023, enhancing speed and reliability of electrical systems

Statistic 62

The average conversion efficiency of solar panels increased from 15% in 2010 to over 22% in 2023, enhancing energy output per installation

Statistic 63

The average number of electrical system failures per year in large industrial plants is approximately 3%, emphasizing the importance of maintenance

Statistic 64

Approximately 60% of the energy savings in smart buildings are achieved through optimized electrical system management, indicating substantial efficiency improvements

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Key Highlights

The global electrical equipment market was valued at approximately $1.4 trillion in 2023
The North American electrical industry is expected to grow at a compound annual growth rate (CAGR) of 4.2% from 2023 to 2028
The U.S. electrical manufacturing sector employed about 1.2 million people in 2023
The global market for electric vehicles (EVs) is expected to reach $823 billion by 2030, significantly boosting electrical component demand
Renewable energy projects account for approximately 40% of new electrical installations worldwide in 2023
The global wire and cable market was valued at $147 billion in 2022 and is projected to grow at a CAGR of 6% through 2028
The worldwide smart grid market size was valued at $35 billion in 2023 and is expected to grow at a CAGR of 19% through 2028
Asia-Pacific leads the electrical industry with over 50% of global electrical equipment production in 2023
The global energy storage market, crucial for electrical grid stability, was valued at $12 billion in 2023 and is forecasted to reach $50 billion by 2030
Solar photovoltaic (PV) capacity installation worldwide increased by 150 GW in 2023, reaching a total of 950 GW globally
The average age of electrical infrastructure in the U.S. is estimated to be over 40 years, indicating significant need for upgrades
The electrical industry accounts for about 20% of global greenhouse gas emissions, emphasizing the need for cleaner technology
LED lighting market share in global lighting sales surpassed 60% in 2023, reducing electricity consumption significantly

The electrical industry is electrifying the global economy with a staggering $1.4 trillion market in 2023, driven by rapid growth in renewable energy, smart grid technology, electric vehicles, and infrastructure upgrades worldwide.

Infrastructure Development and Electrification Projects

The average age of electrical infrastructure in the U.S. is estimated to be over 40 years, indicating significant need for upgrades
Europe is investing over $200 billion in electrical infrastructure renewal between 2023 and 2030 to support renewable energy integration
The average lifespan of commercial electrical transformers is about 25 years, with many now nearing replacement due to aging infrastructure
Investment in electrical infrastructure in Africa is projected to reach $50 billion between 2023 and 2030 to support electrification efforts

Infrastructure Development and Electrification Projects Interpretation

These figures illuminate a revealing truth: America's aging electrical backbone demands urgent upgrades, Europe's ambitious $200 billion renewal aims to spark a renewable revolution, aging transformers signal the need for replacement throughout the globe, and Africa's billion-dollar investments underscore electrification as a pivotal driver of development—reminding us that a modern, resilient electrical grid is truly the heartbeat of progress.

Market Size and Growth Trends

The global electrical equipment market was valued at approximately $1.4 trillion in 2023
The North American electrical industry is expected to grow at a compound annual growth rate (CAGR) of 4.2% from 2023 to 2028
The U.S. electrical manufacturing sector employed about 1.2 million people in 2023
The global market for electric vehicles (EVs) is expected to reach $823 billion by 2030, significantly boosting electrical component demand
The global wire and cable market was valued at $147 billion in 2022 and is projected to grow at a CAGR of 6% through 2028
The worldwide smart grid market size was valued at $35 billion in 2023 and is expected to grow at a CAGR of 19% through 2028
The global energy storage market, crucial for electrical grid stability, was valued at $12 billion in 2023 and is forecasted to reach $50 billion by 2030
Solar photovoltaic (PV) capacity installation worldwide increased by 150 GW in 2023, reaching a total of 950 GW globally
LED lighting market share in global lighting sales surpassed 60% in 2023, reducing electricity consumption significantly
The adoption of IoT in electrical infrastructure is expected to grow at a CAGR of 22% from 2023 to 2028, facilitating smarter grids
Electric vehicle charging station installations worldwide increased by 40% in 2023, reaching over 2 million units
The global wind turbine market was valued at approximately $17 billion in 2023, with an expected CAGR of 8% through 2028
The number of smart electric meters installed worldwide exceeded 1.2 billion in 2023, increasing energy management capabilities
According to the ASTM, insulation resistance testing in electrical systems is mandatory for ensuring safety and reliability in 85% of industrial applications
The global market for electrical connectors is projected to reach $35 billion by 2027, driven by automation and electrification trends
The use of artificial intelligence in predictive maintenance of electrical grids increased by 25% annually over the past three years, reducing outages
The global industrial electric motor market size was valued at $30 billion in 2022 and is projected to grow at a CAGR of 4.5% through 2028
The adoption of smart home electrical devices is expected to grow at a CAGR of 15% from 2023 to 2028, increasing energy efficiency in residential buildings
The global market for surge protection devices is projected to reach $5 billion by 2025, driven by increased safety standards
The global electrical safety testing market was valued at $4.2 billion in 2022 and is expected to grow at a CAGR of 7% through 2028
The adoption of energy-efficient variable frequency drives (VFDs) in industrial applications increased by 18% in 2023, reducing energy consumption
The global market for circuit breakers is projected to reach $11 billion by 2025, with a shift towards smart and eco-friendly solutions
Approximately 65% of electrical appliances in the world are connected to smart devices in 2023, optimizing energy use and connectivity
The global market for electric lighting is expected to reach $80 billion by 2026, driven by energy efficiency and smart technology integration
The usage of cloud-based electrical management systems increased by 30% in 2023, supporting remote and real-time monitoring
The average cost of electrical equipment per household in developed countries was approximately $2,500 in 2023, highlighting market size and consumer spending
The global offshore wind power capacity is expected to reach 110 GW by 2030, significantly impacting electrical infrastructure demands
The penetration of smart grids in urban areas increased to 45% worldwide in 2023, improving energy resilience and efficiency
The highest growth rate in electrical components in 2023 was seen in electromagnetic compatibility (EMC) solutions, with a growth of 12%, to ensure system reliability
The global power electronics market was valued at $38 billion in 2022 and is projected to grow at a CAGR of 8.2% through 2028, expanding the electrical industry scope
The adoption of modular electrical systems in construction increased by 20% in 2023, facilitating faster installation and scalability
The global market share of printed circuit boards (PCBs) used in electrical systems grew by 5% in 2023, driven by increasing electronics integration
Electricians represent approximately 2% of the total workforce in the electrical industry worldwide, emphasizing specialization needs
The global demand for portable emergency power supplies increased by 15% in 2023, driven by natural disasters and remote operational needs
The deployment of battery energy storage systems in commercial and industrial settings grew by 40% in 2023, indicating increased energy resilience efforts
The global market for electrical enclosures is projected to reach $7 billion by 2025, driven by automation and safety regulations
The construction industry accounts for over 50% of electrical equipment consumption globally, reflecting the sector's demand for electrical infrastructure
The global market for smart lighting solutions is expected to reach $25 billion by 2027, driven by energy saving and automation
Approximately 80% of electrical accidents in industrial settings are caused by poor wiring and faulty equipment, underscoring safety importance
The adoption rate of electric-powered construction equipment increased by 22% in 2023, reducing emissions and increasing efficiency
Global electrical fixture sales are expected to grow at a CAGR of 4.5% through 2028, reaching over $90 billion, driven by renovation and new developments
The application of blockchain technology for electrical grid management is gaining traction, with pilot projects increasing by 15% annually, to enhance cybersecurity and transparency
The global distribution transformer market was valued at $8 billion in 2022 and is expected to grow at a CAGR of 5% through 2028, supporting expanding electrical demand
The total global investment in smart grid infrastructure surpassed $150 billion in 2023, facilitating advanced grid management
The market for electrical diagnostic equipment, including testers and analyzers, is projected to reach $4.5 billion by 2026, driven by increasing safety regulations
The deployment of energy-efficient lighting in commercial spaces increased by 25% in 2023, contributing to significant reductions in energy costs
The electrification of railway systems worldwide is projected to grow by 10% annually over the next decade, necessitating advances in electrical infrastructure
The global market for electrical safety relays is estimated to reach $2.5 billion by 2025, supporting automation and safety controls in industrial systems
About 45% of the power generated in the world is transmitted through high-voltage transmission lines, underscoring the importance of transmission efficiency
The adoption of modular and prefabricated electrical systems in commercial construction increased by 18% in 2023, enabling quicker installation times

Market Size and Growth Trends Interpretation

As the $1.4 trillion global electrical market illuminates its bright future—from soaring smart grids and EV demand to a surge in energy efficiency innovations—industry stakeholders are wiring together a more interconnected, sustainable, and electrified world, powering progress with precision and purpose.

Regional and National Market Insights

Asia-Pacific leads the electrical industry with over 50% of global electrical equipment production in 2023

Regional and National Market Insights Interpretation

With Asia-Pacific wielding over half of the world's electrical equipment production in 2023, it's clear that the region isn't just plugging into the future—it's wiring the global economy.

Renewable Energy and Sustainable Initiatives

Renewable energy projects account for approximately 40% of new electrical installations worldwide in 2023
The electrical industry accounts for about 20% of global greenhouse gas emissions, emphasizing the need for cleaner technology
Over 65% of new electrical projects in emerging markets are integrating renewable sources, marking a shift towards sustainable development

Renewable Energy and Sustainable Initiatives Interpretation

With renewable energy making up 40% of new global electrical installations in 2023 and increasingly powering emerging markets, the electrical industry stands at a pivotal crossroads—either electrify sustainably or risk being further entangled in a 20% worldwide greenhouse gas legacy.

Technological Advancements and Innovations

The cost of lithium-ion batteries for energy storage has decreased by around 89% from 2010 to 2023, making renewable energy storage more viable
About 70% of electrical energy losses occur during transmission and distribution, highlighting efficiency improvement opportunities
The adoption of fiber optic cables for electrical control and data transfer increased by 35% in 2023, enhancing speed and reliability of electrical systems
The average conversion efficiency of solar panels increased from 15% in 2010 to over 22% in 2023, enhancing energy output per installation
The average number of electrical system failures per year in large industrial plants is approximately 3%, emphasizing the importance of maintenance
Approximately 60% of the energy savings in smart buildings are achieved through optimized electrical system management, indicating substantial efficiency improvements

Technological Advancements and Innovations Interpretation

As lithium-ion batteries become 89% cheaper and solar panels surpass 22% efficiency, the electrical industry is both embracing smarter, faster, and more sustainable solutions—yet with 70% transmission losses still haunting us, there's a clear call for efficiency upgrades to truly light the way forward.